Section 19AA: Establishment of Core Group

19AA. Establishment of Core Group (1) There is established for the purposes of this Act a Core Group for Anti-Money Laundering and Combatting the Financing of Terrorism and Proliferation. (2) (a) The Core Group shall consist of – (i) the Financial Secretary, as chairperson; (ii) the Governor of the Bank of Mauritius, as co-chairperson; (iii) the Director-General of the Independent Commission Against Corruption, as co-chairperson; (iv) the Chairperson of the Financial Services Commission; (v) the Chairperson of the National Committee on AML/CFT; (vi) a representative of the Ministry responsible for the (cid:86)(cid:88)(cid:69)(cid:77)(cid:72)(cid:70)(cid:87)(cid:3)(cid:82)(cid:73)(cid:3)(cid:191)(cid:81)ance; 286 Acts 2021 (vii) a representative of the (cid:36)(cid:87)(cid:87)(cid:82)(cid:85)(cid:81)(cid:72)(cid:92)(cid:3)(cid:42)(cid:72)(cid:81)(cid:72)(cid:85)(cid:68)(cid:79)(cid:182)(cid:86)(cid:3)(cid:50)(cid:73)(cid:191)(cid:70)(cid:72)(cid:30) (viii) the Chief Executive, Financial Services Commission; and (i Committee on AML/CFT; (vi) a representative of the Ministry responsible for the (cid:86)(cid:88)(cid:69)(cid:77)(cid:72)(cid:70)(cid:87)(cid:3)(cid:82)(cid:73)(cid:3)(cid:191)(cid:81)ance; 286 Acts 2021 (vii) a representative of the (cid:36)(cid:87)(cid:87)(cid:82)(cid:85)(cid:81)(cid:72)(cid:92)(cid:3)(cid:42)(cid:72)(cid:81)(cid:72)(cid:85)(cid:68)(cid:79)(cid:182)(cid:86)(cid:3)(cid:50)(cid:73)(cid:191)(cid:70)(cid:72)(cid:30) (viii) the Chief Executive, Financial Services Commission; and (ix) the Director of FIU. (b) The Core Group – (i) shall meet at least once every month; (ii) shall regulate its meetings and proceedings in such manner as it may determine; (iii) may, in the discharge of its functions, co-opt such other members as it may determine; (iv) shall, in the discharge of its functions, be assisted by a Secretariat, to be approved by the Minister to whom responsibility for the subject (cid:82)(cid:73)(cid:3)(cid:191)(cid:81)(cid:68)(cid:81)(cid:70)(cid:72)(cid:3)(cid:76)(cid:86)(cid:3)(cid:68)(cid:86)(cid:86)(cid:76)(cid:74)(cid:81)(cid:72)(cid:71)(cid:17) (c) At any meeting of the Core Group, 5 members shall constitute a quorum. (3) The functions of the Core Group shall be to – (a) ensure the effective implementation, by the relevant competent authorities of the Financial Action Task Force international standards on AML/CFT; Acts 2021 287 (b) make recommendations to the Prime Minister on matters, including implementation, strategy and international developments, pertaining to AML/CFT; (c) decide on matters pertaining to the implementation of AML/CFT standards which a relevant competent authority may refer to it; (d) ensure effective coordination and cooperation with the National Committee and among all competent authorities; and (e) do such acts or things as are incidental or conducive to the (cid:73)(cid:88)(cid:79)(cid:191)(cid:79)(cid:79)(cid:80)(cid:72)(cid:81)(cid:87)(cid:3)(cid:82)(cid:73)(cid:3)(cid:76)(cid:87)(cid:86)(cid:3)(cid:73)(cid:88)(cid:81)(cid:70)(cid:87)(cid:76)(cid:82)(cid:81)(cid:86)(cid:17) (4) For the purpose of subsection (2), competent authorities include supervisory authorities, Registrars and law enforcement authorities. (iv) in section 19B, by adding the following new paragraph, the full stop at the end of paragraph (f) being deleted and replaced by the words “; and” and the word “and” at the end of paragraph (e) being deleted – (g) shall keep the Core Group informed on a regular basis of matters related to its functions. (v) in section 19C, by adding the following new subsection – (3) The National Committee shall, in the discharge of its functions, be assisted by a Secretariat which shall be constituted with the approval of the Minister. 288 Acts 2021 (d) in section 19FA(1), by deleting the words “member of a relevant profession or occupation and the member of the relevant profession or occupation” and replacing them by the (cid:90)(cid:82)(cid:85)(cid:71)(cid:86)(cid:3)(cid:179)(cid:83)(cid:72)(cid:85)(cid:86)(cid:82)(cid:81)(cid:3)(cid:79)(cid:76)(cid:86)(cid:87)(cid:72)(cid:71)(cid:3)(cid:76)(cid:81)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:191)(cid:85)(cid:86)(cid:87)(cid:3)(cid:70)(cid:82)(cid:79)(cid:88)(cid:80)(cid:81)(cid:3)(cid:82)(cid:73)(cid:3)(cid:51)(cid:68)(cid:85)(cid:87)(cid:3)(cid:20)(cid:3)(cid:82)(cid:73)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:41)(cid:76)(cid:85)(cid:86)(cid:87)(cid:3) Schedule and the person”; (e) in section 19H(2) – (i) by repealing paragraph (a); (ii) cid:86)(cid:82)(cid:81)(cid:3)(cid:79)(cid:76)(cid:86)(cid:87)(cid:72)(cid:71)(cid:3)(cid:76)(cid:81)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:191)(cid:85)(cid:86)(cid:87)(cid:3)(cid:70)(cid:82)(cid:79)(cid:88)(cid:80)(cid:81)(cid:3)(cid:82)(cid:73)(cid:3)(cid:51)(cid:68)(cid:85)(cid:87)(cid:3)(cid:20)(cid:3)(cid:82)(cid:73)(cid:3)(cid:87)(cid:75)(cid:72)(cid:3)(cid:41)(cid:76)(cid:85)(cid:86)(cid:87)(cid:3) Schedule and the person”; (e) in section 19H(2) – (i) by repealing paragraph (a); (ii) in paragraph (b), by deleting the words “FIU shall,” and replacing them by the words “FIU may, in lieu of applying any administrative sanction referred to in subsection (1)(d),”; (f) in section 19S – (i) in subsection (2), by deleting the words “subsection (4)(a)” and replacing them by the words “subsection (1)(a)”; (ii) in subsection (3), by deleting the words “Notwithstanding an application under subsection (4)(a) but subject to subsection (7), the decision” and replacing them by the words “The decision”; (g) in the First Schedule – (i) in Part I – (A) in item 1, by deleting the words “, public (cid:68)(cid:70)(cid:70)(cid:82)(cid:88)(cid:81)(cid:87)(cid:68)(cid:81)(cid:87)(cid:3) (cid:68)(cid:81)(cid:71)(cid:3) (cid:80)(cid:72)(cid:80)(cid:69)(cid:72)(cid:85)(cid:3) (cid:191)(cid:85)(cid:80)(cid:3) (cid:88)(cid:81)(cid:71)(cid:72)(cid:85)(cid:3) (cid:87)(cid:75)(cid:72)(cid:3) Financial Reporting Act” and replacing them by the words “and public accountant under the Financial Reporting Act only where they are sole practitioners, partners or employed professionals (cid:90)(cid:76)(cid:87)(cid:75)(cid:76)(cid:81)(cid:3)(cid:80)(cid:72)(cid:80)(cid:69)(cid:72)(cid:85)(cid:3)(cid:191)(cid:85)(cid:80)(cid:86)(cid:180)(cid:30) (B) by inserting, after item 1, the following new item – (cid:3) (cid:3) (cid:3) (cid:3) (cid:21)(cid:17)(cid:3)(cid:3)(cid:48)(cid:72)(cid:80)(cid:69)(cid:72)(cid:85)(cid:3)(cid:191)(cid:85)(cid:80)(cid:86)(cid:3)(cid:3)(cid:3)(cid:3)(cid:3)(cid:3)(cid:3)(cid:3)(cid:48)(cid:68)(cid:88)(cid:85)(cid:76)(cid:87)(cid:76)(cid:88)(cid:86)(cid:3)(cid:3)(cid:3)(cid:3)(cid:3)(cid:44)(cid:81)(cid:86)(cid:87)(cid:76)(cid:87)(cid:88)(cid:87)(cid:72)(cid:3)(cid:3)(cid:3)(cid:3)(cid:82)(cid:73) under this Act Professional Accountants, established under the Financial Reporting Act Acts 2021 289 (ii) in Part II, in paragraph (1) – (A) by deleting subparagraph (c) and replacing it by the following subparagraph – (c) a real estate agent where he is involved in real estate transactions concerning the sale, exchange, purchase or lease of real estate for a client; (B) by inserting, after subparagraph (c), the following new subparagraph – (ca) a land promoter and property developer who, in the course of a business, is involved in real estate transactions concerning the sale, exchange, purchase or lease of real estate; (C) in subparagraph (e)(vi), by inserting, after the word “activity”, the words “for a client”.